TRex Bio funds buy IPO shares at $14 per share
The preferred-to-common conversion followed a 3.8649-to-1 ratio and involved no additional consideration.
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Form Type
4
Rhea-AI Filing Summary
TRex Bio, Inc. (TRXB) had two funds purchase common stock in its IPO on October 8, 2026: SV Life Sciences Fund VI, L.P. bought 89,783 shares and SV Life Sciences Fund VI Strategic Partners, L.P. bought 3,074 shares, each at $14 per share. On October 13, 2026, preferred stock held by those funds and SV Trex Coinvestment, L.P. automatically converted into common stock at the IPO closing, for no additional consideration. SV Trex Coinvestment, L.P. reported 669,939 common shares following its conversion.
Insights
Analyzing...
Insider Trade Summary
Net Buyer: 92,857 shares
Net Buy
12 txns
Insider
SVLSF VI, LLC, SV Life Sciences Fund VI (GP), L.P., SV Life Sciences Fund VI, L.P.
Role
10% Owner | 10% Owner | 10% Owner
Bought
92,857 shs ($1.30M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Preferred Stock F4, F1 | 1,574,074 | $0.00 | $0.00 |
| Conversion | Series B Preferred Stock F4, F1 | 475,411 | $0.00 | $0.00 |
| Conversion | Series A Preferred Stock F4, F2 | 53,892 | $0.00 | $0.00 |
| Conversion | Series B Preferred Stock F4, F2 | 16,277 | $0.00 | $0.00 |
| Conversion | Series B Preferred Stock F4, F3 | 669,939 | $0.00 | $0.00 |
| Conversion | Common Stock F1 | 1,574,074 | $0.00 | $0.00 |
| Conversion | Common Stock F1 | 475,411 | $0.00 | $0.00 |
| Conversion | Common Stock F2 | 53,892 | $0.00 | $0.00 |
| Conversion | Common Stock F2 | 16,277 | $0.00 | $0.00 |
| Conversion | Common Stock F3 | 669,939 | $0.00 | $0.00 |
| Purchase | Common Stock F1, F5 | 89,783 | $14.00 | $1.26M |
| Purchase | Common Stock F2, F6 | 3,074 | $14.00 | $43K |
Holdings After Transaction:
Series A Preferred Stock — 0 contracts (Indirect, By SV Life Sciences Fund VI, L.P.);
Series B Preferred Stock — 0 contracts (Indirect, By SV Life Sciences Fund VI, L.P.);
Series A Preferred Stock — 0 contracts (Indirect, By SV Life Sciences Fund VI Strategic Partners, L.P.);
Series B Preferred Stock — 0 contracts (Indirect, By SV Life Sciences Fund VI Strategic Partners, L.P.);
Series B Preferred Stock — 0 contracts (Indirect, By SV Trex Coinvestment, L.P.);
Common Stock — 2,264,354 shares (Indirect, By SV Life Sciences Fund VI, L.P.);
Common Stock — 77,525 shares (Indirect, By SV Life Sciences Fund VI Strategic Partners, L.P.);
Common Stock — 669,939 shares (Indirect, By SV Trex Coinvestment, L.P.)
Footnotes (6)
- F1. The shares are held directly by SV Life Sciences Fund VI, L.P. ("SV Fund VI"). SV Life Sciences Fund VI (GP), L.P. (the "GP LP") is the general partner of SV Fund VI, and SVLSF VI, LLC ("SVLSF") is the general partner of GP LP. Investment and voting decisions of SV Fund VI are made by the investment committee of SVLSF. Each of GP LP and SVLSF disclaims beneficial ownership except to the extent of its pecuniary interest, and this report is not an admission of beneficial ownership for any other purpose.
- F2. The shares are held directly by SV Life Sciences Fund VI Strategic Partners, L.P. ("SV Strategic Partners VI"). GP LP is the general partner of SV Strategic Partners VI, and SVLSF is the general partner of GP LP. Investment and voting decisions of SV Strategic Partners VI are made by the investment committee of SVLSF. Each of GP LP and SVLSF disclaims beneficial ownership except to the extent of its pecuniary interest, and this report is not an admission of beneficial ownership for any other purpose.
- F3. The shares are held directly by SV Trex Coinvestment, L.P. ("SV Coinvestment"). GP LP is the general partner of SV Coinvestment, and SVLSF is the general partner of GP LP. Investment and voting decisions of SV Coinvestment are made by the investment committee of SVLSF. Each of GP LP and SVLSF disclaims beneficial ownership and this report is not an admission of beneficial ownership for any other purpose.
- F4. On October 13, 2026, 3.8649 shares of preferred stock automatically converted into one share of common stock upon the closing of the issuer's initial public offering, for no additional consideration. The preferred stock has no expiration date.
- F5. Represents shares purchased by SV Fund VI in the issuer's initial public offering.
- F6. Represents shares purchased by SV Strategic Partners VI in the issuer's initial public offering.
Key Figures
Common shares purchased: 89,783 shares
Common shares purchased: 3,074 shares
IPO purchase price: $14 per share
+2 more
5 metrics
Common shares purchased
89,783 shares
SV Life Sciences Fund VI, L.P.; October 8, 2026 IPO purchase
Common shares purchased
3,074 shares
SV Life Sciences Fund VI Strategic Partners, L.P.; October 8, 2026 IPO purchase
IPO purchase price
$14 per share
Price for both reported purchases on October 8, 2026
Preferred-to-common conversion ratio
3.8649 preferred shares per 1 common share
Automatic conversion upon the IPO closing on October 13, 2026
Common shares following conversion
669,939 shares
Held by SV Trex Coinvestment, L.P. following its October 13, 2026 conversion
Key Terms
initial public offering, beneficial ownership, pecuniary interest, preferred stock
4 terms
initial public offering financial
"upon the closing of the issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
beneficial ownership regulatory
"disclaims beneficial ownership except to the extent of its pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of its pecuniary interest"
preferred stock financial
"shares of preferred stock automatically converted into one share of common stock"
Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did TRXB's preferred stock convert to common stock?
On October 13, 2026, preferred stock automatically converted into common stock upon closing of TRex Bio's IPO at a ratio of 3.8649 preferred shares for one common share, for no additional consideration.
AI-generated analysis. How Rhea-AI works. Not financial advice.
